A deal, a work stoppage, congressional intervention or a delay -- all are possible scenarios to watch.
Bloomberg WireRailroads and unions have until Friday to resolve a labor dispute that risks a crippling shutdown of the nation’s freight-rail network, wreaking havoc on the US economy.
Both sides have motive to avoid a strike, which would be an embarrassing and costly spectacle for the companies while depriving workers not just of immediate paychecks but also of the chance to negotiate their own contract, should Congress respond to disruption by imposing terms. However, the self-professed most pro-labor president in history could also be judged by his labor allies on the terms of any agreement.
Freight railways carry roughly 30% of US goods. If their shipments stop, the outcomes could include bare store shelves, empty grain silos and barren lumberyards, costing the economy more than $2 billion a day. A strike may also fuel questions about Biden’s leadership, after he invested personal time and effort on an agreement.
US union members generally have the right to go on strike in hopes of winning better contracts. But the Railway Labor Act imposes additional hurdles to prevent work stoppages by rail workers. They include a greater role for Congress, which could impose a collective bargaining agreement on the two sides.
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